Here's A Look At The L.A. Condo Building That's A Celebrity Magnet

The Hollywood Reporter digs up the real estate fun facts this week on West Hollywood's 146 unit Sierra Towers condo building (yes, it's just one building), the very expensive celebrity magnet on the border of Beverly Hills. The 31 story Sierra Towers "is effectively irreplaceable because current zoning restrictions would make it difficult to build such a tower in West Hollywood, where it is the tallest building." Not to mention, it's just down the street from Soho House. THR dishes both rumors and facts:

Rumors:

Sierra Towers was originally in Beverly Hills, but Bev Hillers wouldn't stand for that kind of height, so LA County annexed the property (the building opened in 1966, when WeHo was still unincorporated county land).

Construction stalled out at one point, but Frank Sinatra really needed an apartment for his mother, so he helped get work jump-started again.

Sierra is plural because there were once plans to build a second tower.

Truths:

When the Sierra Towers first went condo in 1974, one bedrooms went for $70,500 and three bedrooms went for $152,500.

Post-recession, things are looking up at ST. In 2009, only one unit sold. In 2010, eight units sold, at an average of $1.6 million. And so far in 2011, ten units have sold publicly, at an average of $2.1 million. An insider says three more units have sold off market.